Concord Biotech IPO: How to check the Allotment Status

Concord Biotech IPO gets a strong response

The ₹1,551 crore IPO of Concord Biotech Ltd, consisted entirely and solely of an offer for sale (OFS) with no fresh issue portion. The offeror sale (OFS) entailed the issue of 2,09,25,652 shares (2.09 crore shares approximately) which at the upper end of the price band at ₹741 per share works out to total OFS size of ₹1,551 crore. Thus, there is transfer of ownership via OFS but no equity dilution via fresh issue in this case. The issue was overall subscribed 24.86 times, with the maximum subscription coming from the QIB segment, which got subscribed over 67.67 times. While the HNI / NII segment got subscribed about 16.99 times, the retail portion got subscribed a more modest 3.78 times. Most of the QIB subscriptions came in on the last day of the IPO, which is the norm. The price band for the IPO was ₹705 to ₹741, and looking at the response, it looks fairly likely that the price discovery would eventually happen at the upper end of the price band.

When will the basis of allotment be finalized

The first step for checking the allotment status of the IPO online is the completion of the basis of allotment of Concord Biotech Ltd. The basis of allotment will be finalized late on Friday, 11th August 2023. The refunds will be initiated by the company on 14th August 2023. The demat credits are expected to happen on 17th August 2023 while the listing of the stock on the NSE and the BSE will happen on 18th August 2023. In between there is a holiday due to Independence Day, which has delayed the overall allotment process. If you have applied for the IPO, you can check your allotment status online.

You can either check your allotment status on the BSE website or the IPO registrar, Link Intime India Private Limited. Here are the steps.

Checking the allotment status of Concord Biotech Ltd on BSE website

This is a facility available to all mainboard IPOs, irrespective of who the registrar to the issue is. You can still access the allotment status on the website of BSE India as under. Visit the BSE link for the IPO allotment by clicking on the link below.

https://www.bseindia.com/investors/appli_check.aspx

Once you reach the page, here are the steps to follow.

• Under Issue Type – Select Equity Option
• Under Issue Name – Select Concord Biotech Ltd from the drop down box
• Enter the Application Number exactly as in the acknowledgement slip
• Enter the PAN (10-digit alphanumeric) number
• Once this is done, you need to click on the Captcha to verify that you are not a robot
• Finally click on the Search Button

In the past, while checking the allotment status on the BSE website, it was necessary to input the PAN number and the application Number. However, now BSE has modified the requirements and it is sufficient if you enter any one of these parameters.

The allotment status will be displayed on the screen in front of you informing about the number of shares of Concord Biotech Ltd allotted into your demat account. It is always advisable to save a screenshot of the allotment status output for subsequently verifying with the demat account credits.

Checking the allotment status of Concord Biotech Ltd on Link Intime India Private Limited (Registrar to the IPO)

Here are the steps to follow. Visit the Link Intime registrar website for IPO status by clicking on the link below:

https://linkintime.co.in/IPO/public-issues.html

This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Concord Biotech Ltd from the drop-down box. In the case of Concord Biotech Ltd, data access will be allowed late on 11th of August 2023 or by middle of 12th of August 2023.

• There are 4 options available to you and you will find these 4 options on the above access page itself. You can either access the allotment status based on PAN or Application Number or DPID / Client ID combination or based on the combination of the bank account / IFSC code used to apply for the IPO. You can select any one of the options that is preferred and provide the details accordingly.
   
• If you opt for the PAN Number access, then enter the 10 character income tax permanent account number (PAN). This is an alphanumeric code available either on your PAN card or on top of your income tax return.
   
• The second option is to use the Application Number that you used while making an application for the IPO. The application number is available on the acknowledgement provided to you and you can use that as one of the options to access allotment status.
   
• The third option is to use the DPID-Client ID combination. Remember that here you have to enter the DP id and the demat client id together as one single string. This DPID / Client ID combination is a numeric figure for CDSL demat accounts while it is an alphanumeric string for NSDL demat accounts. This combination of DP ID / Client ID of your demat account will be available in your demat statement or you can also get it online from your online trading account or trading app downloaded on the smart phone.
   
• The fourth option is to query based on the combination of your bank account number and IFSC number and irrespective of how many bank accounts you have, only use the bank account used for this particular IPO application. Once you click on this option, you find two boxes. First, enter your bank account number as it is. Secondly, enter the 11-character IFSC code, which is available on your cheque book. The first 4 characters of the IFSC code are alphabets and the last 7 characters are numeric. IFSC is an abbreviation for Indian Financial System Code and is unique to each account.
   
• Finally, click on the Search button

The IPO status with number of shares of Concord Biotech Ltd allotted will be displayed on the screen in front of you. You can take a screenshot of the output page for your records.

Business model of Concord Biotech Ltd

Concord Biotech Ltd, a company backed by the late Rakesh Jhunjhunwala, is a R&D driven biopharma company. The company is into the manufacture of Active Pharmaceutical Ingredients (API) via fermentation and semi-synthetic processes, apart from manufacture of finished formulations. The company has metamorphosed from being a single-product company to a wide-spectrum solution provider. It currently offers products and solutions across diversified therapeutic segments. Currently, Concord has an established presence in 70 countries worldwide with distribution set-ups in place in the US, Europe, Japan, Latin America, Africa, and Asia. It also has a significant presence in India.  The company is currently partnering with leading global pharma giants to meet their product development needs for APIs and formulations.

Concord Biotech Ltd has 3 manufacturing facilities comprising of 2 API manufacturing units and one finished formulation unit. All the units are located in Gujarat. The Unit I at Dholka facility manufactures different classes of APIs. The Unit II at Valthera facility is into formulations manufacturing. It has manufacturing units for oral solids, including tablets and capsules, as well as oral liquids, including oral solutions and oral suspensions. Concord is also developing liquid and lyophilized vials injectable line, a dry powder injectable line and a sterile powder bulk lyophilization line, which will be dedicated to manufacturing of injectables, including injectable liquids, lyophilized injectables and dry powder injectables. Finally, the Unit III, Limbasi facility is also an API manufacturing facility with 24 fermenters.

The issue is lead managed by Kotak Mahindra Capital, Citigroup Global Markets and Jefferies India. Link Intime India Private Ltd is the registrar to the issue. The entire IPO is an offer for sale, purely to give an exit to the seller, Helix Investments.